Com Systems’ Losses Increase for Quarter

Com Systems, a Van Nuys long-distance telephone company, reported losses of $279,000, or 6 cents a share, for its first quarter ended June 30, following a loss of $154,000, or 4 cents a share, during the quarter a year earlier.

The company blamed the increased losses on the sale of nearly all of the assets of its Tel-America Communications Services, which contributed an operating profit of $545,000 in the year-earlier quarter. Com Systems sold Tel-America on March 31 for $10.4 million to Tel/Man of Greenville, S.C., as part of a deal that included formation by the two firms of a new long-distance telephone company in South Carolina.

Com Systems’ revenue in the first quarter fell 4.9% to $5.8 million, from $6.1 million a year earlier.